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Bulawayo's thriving car breaking industry
When you think of industries that offer opportunities for employment and entrepreneurship, the car breaking industry is probably not the first one that comes to mind.However, in Bulawayo, Zimb...Published: 18 Mar 2023 at 06:34hrs | 224 | by Staff reporter
Tobacco auction floors open tomorrow
Tobacco farmers have started delivering their crop ahead of the marketing season which opens tomorrow at auction floors with the official ceremony at Tobacco Sales Floor.Deliveries for the far...Published: 07 Mar 2023 at 05:23hrs | 129 | by Staff reporter
Botswana threatens to sever ties with diamond giant De Beers
Botswana's President Mokgweetsi Masisi has warned that his country may sever ties with diamond giant De Beers if talks to renegotiate a sales deal prove unfavorable to his government.Masisi al...Published: 16 Feb 2023 at 04:57hrs | 1286 | by Staff reporter
1 000 robbers sent to prison
About 1 000 robbers were convicted and sentenced to imprisonment for periods ranging from 6 months to 60 years during the first 10 months of the year, as the clampdown on rising cases of violent crime...Published: 11 Dec 2022 at 08:54hrs | 222 | by Staff reporter
RBZ clears forex allotment backlog
THE forex allotment backlog worth millions of dollars from the first 93 auctions on the Reserve Bank of Zimbabwe (RBZ)'s foreign currency auction has been cleared, deputy governor Innocent Matshe has ...Published: 09 Dec 2022 at 05:12hrs | 191 | by Staff reporter
Vendors 4ED target 3 million votes for Zanu-PF
Vendors 4ED plans to mobilise over three million votes for Zanu-PF and President Mnangagwa ahead of next year's harmonised elections, with the group now embarking on an aggressive voter mobilisation p...Published: 04 Dec 2022 at 08:05hrs | 50 | by Staff reporter
Vendors 4ED chapter launched
HUNDREDS of vendors gathered in the city centre for the official launch of the Vendors 4ED Bulawayo Chapter yesterday.During the launch, vendors accused the Bulawayo City Council of victimisin...Published: 01 Dec 2022 at 04:55hrs | 135 | by Staff reporter
Mthuli Ncube pays US$8 500 for Sandra Ndebele's latest album
November 12, 2022, will go down in the history of the arts in Bulawayo and Zimbabwe, not only as a celebration of Sandra Ndebele's 20-year career but as the day an album launch united the arts sector....Published: 14 Nov 2022 at 05:45hrs | 4749 | by Staff reporter
NRZ auctions disused wagons, obsolete material
THE National Railways of Zimbabwe (NRZ) will this week auction its disused wagons and other obsolete metals, which have become uneconomic to repair due to various reasons including accidents.T...Published: 07 Nov 2022 at 05:26hrs | 283 | by Staff reporter
Zimbabwe police warn armed robbers
Police will continue to apply greater pressure on those committing serious crimes, with armed robbers a particular target, Commissioner General Godwin Matanga has said. Speaking at the return of 19 po...Published: 24 Oct 2022 at 06:07hrs | 314 | by Staff reporter
Sikhala's wife claims she was arrested for refusing to pay a bribe to traffic cops
JAILED Citizens Coalition for Change (CCC) legislator, Job Sikhala's wife Ellen has pleaded not guilty to the charges of violating road rules telling the court that officers wanted a bribe from her....Published: 19 Oct 2022 at 20:27hrs | 786 | by Staff reporter
Cop, soldier up for US$1,3m robbery
A CRIMINAL Investigations Department (CID) officer and a soldier appeared before Harare regional magistrate Taurai Manuwere yesterday facing charges of robbing ABC Auctions of US$1,3 million.C...Published: 14 Oct 2022 at 05:54hrs | 1936 | by Staff reporter
US$1.4 million ABC Auctions robbery suspect dies after police shooting
A man suspected of taking part in Zimbabwe's second biggest heist ever has died after being shot by police in Epworth, 17km south of Harare.Trymore Bondamakara had been linked to the October 8...Published: 13 Oct 2022 at 20:09hrs | 1253 | by Staff reporter
Robbers vanish with US$1,5m from ABC Auctions
FOUR armed robbers stormed ABC Auctions along Seke Road in Harare on Friday night and got away with US$1,5 million after subduing two security guards at the premises.Police spokesperson Assist...Published: 09 Oct 2022 at 07:52hrs | 313 | by Staff reporter
Mystery buyer Zimbabwe of diamonds outed
THE Zimbabwean government has reportedly given preference to Belarusian diamond buyers to snap-up the gems under unclear circumstances.This comes at a time when the country's state-run mining ...Published: 16 Sep 2022 at 19:36hrs | 957 | by Staff reporter
Matebeleland South bans private cattle sales
GWANDA Rural District working with the Department of Veterinary Services and the police has banned private cattle sales or door to door sales in the district to curb rustling.In a public notic...Published: 09 Sep 2022 at 06:01hrs | 703 | by Staff reporter
Massive Zimbabwe police vehicle theft scam exposed
A click of senior police officers allegedly helped themselves to cars that were impounded from motorists with most of the vehicles ending up at an auction business owned by Vice-President Constantino ...Published: 31 Jul 2022 at 08:13hrs | 1845 | by Staff reporter
Zimbabwe's economy not as bad as claimed, says Mangudya
RESERVE Bank of Zimbabwe (RBZ) Governor, John Mangudya has said the country's economy is doing well despite the negative perception among the people.Giving oral evidence on the performance of ...Published: 13 Jul 2022 at 07:24hrs | 1973 | by Staff reporter
South Africa's moonlighting President has a serious constitutional case to answer
Our rudderless President Cyril Ramaphosa has been exposed not only for his lack of leadership, but also for his gross misunderstanding of the country's Constitution.We all know that he was a v...Published: 28 Jun 2022 at 12:01hrs | 360 | by Paul Ngobeni
Ramaphosa has a serious constitutional case to answer
Our rudderless President Cyril Ramaphosa has been exposed not only for his lack of leadership, but also for his gross misunderstanding of the country's Constitution.We all know that he was a v...Published: 26 Jun 2022 at 09:26hrs | 707 | by Paul Ngobeni
VAYA Technologies relaunches online bidding platform
VAYA Technologies Zimbabwe, a subsidiary of EcoCash Holdings Zimbabwe Limited, has re-launched BidBuddie, an online bidding platform that allows customers to bid and buy, auction and sell virtually an...Published: 21 Jun 2022 at 16:13hrs | 280 | by Staff reporter
Bread prices set to drop?
BREAD prices are set to drop after the Reserve Bank of Zimbabwe (RBZ) pledged to prioritise foreign currency allotments to the National Bakers Association of Zimbabwe to facilitate the importation of ...Published: 21 Jun 2022 at 06:37hrs | 258 | by Staff reporter
Zimbabwe's central bank moves to control price of bread
Zimbabwe's central bank said Monday that the price of bread will go down after it held talks with an association of bakers.Governor John Mangudya said bakers had complained over lack of access...Published: 20 Jun 2022 at 18:56hrs | 1024 | by Staff reporter
Delta subsidiaries in revenue fix
BEVERAGES manufacturer Delta Corporation Limited says the volatility of the exchange rate-driven inflation is pressuring its operational costs and hurting the revenue generation capabilities of its fo...Published: 17 Jun 2022 at 08:55hrs | 292 | by Staff reporter
Forex auction props up industry revival
The foreign exchange auctions have disbursed over US$3,2 billion to productive sectors since they opened in 2020, a development that resulted in the growth of local industry's capacity utilisation to ...Published: 17 Jun 2022 at 08:17hrs | 63 | by Staff reporter
Mugabes in farm equipment scam
LATE president Robert Mugabe's family has been rocked by a fresh scandal after allegedly selling an assortment of farm equipment belonging to government departments and pocketing the money, it has eme...Published: 11 Jun 2022 at 09:32hrs | 995 | by Staff reporter
Grace Mugabe's accountant up for fraud
An accountant at former First Lady Grace Mugabe's Foundation has appeared in court on allegations of defrauding her of US$42 636.Jabulani Cornerstone Dumbura (37), who also manages Mugabe's Hi...Published: 27 May 2022 at 06:38hrs | 129 | by Staff reporter
RBZ auction rate reaches $258
The auction rate, the weighted average of successful bids on the Reserve Bank of Zimbabwe foreign currency auction for productive businesses, fell from $173,2685 to the US dollar last week to $258,540...Published: 18 May 2022 at 06:18hrs | 715 | by Staff reporter
John Mangudya and CZI kiss and make up
In its position paper on the sensitive issue leaked to the media on Friday, CZI called on the Reserve Bank of Zimbabwe (RBZ) to suspend the foreign currency auction system after the Zimdollar fell to ...Published: 27 Apr 2022 at 11:39hrs | 1113 | by Mandla Ndlovu
Zimbabwe repossessing unused land from black farmers
Zimbabwe has begun repossessing idle land from black farmers who benefitted from controversial land reforms two decades ago, Agriculture Minister Anxious Masuka said Wednesday.People whose far...Published: 31 Mar 2022 at 09:25hrs | 1793 | by Staff reporter
Zimdollar continues to lose value against US$
THE official exchange rate at the forex auction system moved to US$1:$142,4 on Tuesday from US$1 to $138,2 last week.There is, however, a huge margin between the official exchange rate and the...Published: 31 Mar 2022 at 08:48hrs | 519 | by Staff reporter
RBZ releases US$100 million to clear auction backlog
THE Reserve Bank of Zimbabwe has released US$100 million to clear the backlog of foreign currency allocations at the RBZ's weekly auctions, Governor Dr John Mangudya said.The central bank intr...Published: 30 Mar 2022 at 07:18hrs | 109 | by Staff reporter
RBZ issues ZW$2,1bn Treasury Bill
THE Reserve Bank of Zimbabwe (RBZ) yesterday issued a ZW$2,1 billion Treasury Bill seeking to raise funding from the market to support development programmes and public cashflow management.Tre...Published: 24 Mar 2022 at 05:20hrs | 100 | by Staff reporter
Forex backlog dents machinery imports
ZIMBABWE'S industries are still battling to access millions of United States dollars allocated through the foreign currency auction system, Confederation of Zimbabwe Industries (CZI) president, Kurai ...Published: 17 Mar 2022 at 05:52hrs | 410 | by Staff reporter
Zimdollar retreats again
THE Zimbabwe dollar has again weakened against the United States dollar at the weekly forex auction system on Tuesday where it traded at US$1: $127,3. Last week, the local currency traded at $...Published: 03 Mar 2022 at 05:41hrs | 847 | by Staff reporter
Dutch Auction Market vs Local Allocation System
The Reserve Bank of Zimbabwe (RBZ) launched the Dutch auction system on the 23rd of June 2020 to improve transparency in the distribution of foreign currency locally. Initially the auction exchange pl...Published: 23 Feb 2022 at 19:38hrs | 284 | by Victor Bhoroma
Dutch Auction Market vs Local Allocation System
The Reserve Bank of Zimbabwe (RBZ) launched the Dutch auction system on the 23rd of June 2020 to improve transparency in the distribution of foreign currency locally. Initially the auction exchange pl...Published: 04 Feb 2022 at 15:08hrs | 400 | by Victor Bhoroma
RBZ rules out interbank rate
THE Reserve Bank of Zimbabwe (RBZ) has ruled out using an interbank-driven exchange rate, saying a rate determined at the foreign currency auction system would remain in force.An interbank rat...Published: 28 Jan 2022 at 06:00hrs | 1990 | by Staff reporter
US sanctions on Zimbabwe's elite ricochet across economy
Callisto Jokonya stands in the cavernous factory of Imperial Refrigeration and recalls the halcyon days.In the 1990s, his factory, located in the Zimbabwean capital Harare, was buzzing....Published: 20 Jan 2022 at 05:38hrs | 926 | by Staff reporter
Zimbabwean economy suffers under US sanctions
Callisto Jokonya stands in the cavernous factory of Imperial Refrigeration and recalls the halcyon days.In the 1990s, his factory, located in the Zimbabwean capital Harare, was buzzing with a ...Published: 20 Jan 2022 at 05:31hrs | 105 | by Staff reporter
RBZ goes after currency manipulators
The Reserve Bank of Zimbabwe (RBZ) says it is investigating allegations of currency manipulation by some business entities as well as breaches of the Bank Use Promotion Act.Central bank Govern...Published: 12 Jan 2022 at 23:08hrs | 529 | by Staff reporter
Mnangagwa's call to polls rattles opposition parties?
PRESIDENT Mnangagwa has proclaimed March 26 as the day for holding by-elections to fill vacant Parliament and council seats, a move welcomed by the country's major political parties.The Nomina...Published: 07 Jan 2022 at 05:56hrs | 1684 | by Staff reporter
Residents outraged as council auctions bus for ZW$20 000
MASVINGO residents are up in arms with the city council after the local authority sold a functioning bus for a paltry ZW$20 000 at an auction which was held without their knowledge.The 75-seat...Published: 12 Dec 2021 at 20:19hrs | 449 | by Staff reporter
Mnangagwa takes rogue businesses issue to advisors
Pricing by businesses using black-market exchange rates yet getting foreign currency at the auctions run by the Reserve Bank of Zimbabwe is seeing prices rise unnecessarily and a danger of speculation...Published: 12 Dec 2021 at 20:00hrs | 45 | by Staff reporter
Zimdollar falls by 69%
Zimbabwe's local currency has fallen by nearly 70% since the beginning of the year on the parallel market, compared to about 30% on the official market, data from a leading advisory firm showed on Tue...Published: 02 Dec 2021 at 05:36hrs | 43 | by Staff reporter
RBZ starts clearing auction forex backlog
The Reserve Bank of Zimbabwe (RBZ) yesterday says it has started the process to clear nearly US$200 million of the foreign currency backlog on the auction market after receiving the requisite funds fr...Published: 17 Nov 2021 at 05:07hrs | 15 | by Staff reporter
Zimbabwe govt turns to UN over gem ban
ZIMBABWE'S ruling Zanu-PF and 16 fringe opposition parties under the Political Actors Dialogue (Polad) have requested the United Nations (UN) to help it resume international trade in diamonds, the Zim...Published: 07 Nov 2021 at 08:07hrs | 14 | by Staff reporter
RBZ shuts down forex platform to stem currency decline
ZIMBABWEAN authorities shut down a popular black-market currency-tracking platform, the latest action to try and stop an accelerating decline in its currency.The central bank ordered marketwat...Published: 21 Oct 2021 at 06:22hrs | 8 | by Staff reporter
Shops continue using 'illegal' rates
WARNINGS by the Reserve Bank of Zimbabwe's (RBZ) Financial Intelligence Unit and the recent arrest of directors of some top companies over foreign currency manipulation seem to have fallen on deaf ear...Published: 21 Oct 2021 at 06:17hrs | 22 | by Staff reporter
US$2bn allocated at forex auctions
More than US$2 billion was allotted to almost 6 000 entities at the Reserve Bank of Zimbabwe's weekly foreign currency auctions from when they opened near the end of June last year to the end of last ...Published: 16 Oct 2021 at 06:26hrs | 6 | by Staff reporter
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